Which of the Following Is NOT a Factor Which Might

question 39

Multiple Choice

Which of the following is NOT a factor which might encourage standardization?

• A) Government and regulatory influences.
• B) Economies of scale in production.
• C) Economies in marketing.
• D) Shrinking of the world marketplace.

---

Definitions:

Labor

The human effort, including both mental and physical activities, employed in the production of goods and services.

Machines

Mechanical or electronic devices designed to perform specific tasks, often used to enhance efficiency and productivity in manufacturing or processing.

Total Cost

The complete expenditure incurred for producing or offering a product or service, including fixed and variable costs.

Competitive Factor Markets

Refers to markets where factors of production (such as labor, capital) are bought and sold in a competitive environment, ensuring prices are influenced by supply and demand.